With Bitcoin hovering around the $51,000–$52,000 level, focus now turns towards smaller altcoins that tend to outperform in bull cycles – signaling a potential new “alt season” ahead. According to analyst Altcoin Daily, one subset looking primed for this cycle is AI and machine learning crypto projects.
Also as advancements in artificial intelligence technology accelerate and the industry expands into the multi-trillions over the next decade, decentralized AI solutions stand ready to capitalize on surging data processing demand.
Here are the top five cryptocurrencies enabling next-generation machine learning applications that could post major upside in 2024, per Altcoin Daily:
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SingularityNET
Founded in 2017, SingularityNET operates a decentralized marketplace for AI services with a respected founder and vision for developing artificial general intelligence (AGI). Additionally, with dominance as the leading platform for AI-as-a-service, it’s positioned prominently.
LimeWire
Once known for peer-to-peer file sharing, LimeWire has reemerged and focused on AI-generated music. In addition, by leveraging blockchain technology, the protocol allows artists to maintain control and monetization of their content while utilizing AI for creation.
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Bit Tensor
As one of the largest existing AI cryptocurrencies, Bit Tensor looks to revolutionize machine learning through decentralization. Via a peer-to-peer market for computational power, the project harnesses collective intelligence from AI models at scale.
AIT Protocol
Billed as the world’s first AI data infrastructure, the AIT Protocol bridges major gaps between AI and big data spheres. Additionally, by providing Web 3 AI solutions and decentralized data collection, it could create millions of jobs.
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The Graph
Dubbed the “Google of blockchains,” The Graph has emerged as a leading Web 3 index and query protocol for organizing and accessing blockchain data. With a decentralized architecture, it provides speedy and reliable data insights into data-heavy chains, unlocking AI potential.
With the evolution of machine learning capabilities poised to drive trillions in value this decade, the innovation coupling AI and decentralized tools could prove extremely impactful. Additionally, as the most promising projects see adoption in the coming years, their underlying crypto asset values stand to benefit immensely amid the growing data economy.